Ares Commercial Real Estate Corporation (ACRE) To Go Ex-Dividend on December 31st

Ares Commercial Real Estate Corporation (NYSE:ACRE) declared a quarterly dividend on Friday, November 7th. Shareholders of record on Wednesday, December 31st will be given a dividend of 0.15 per share by the real estate investment trust on Thursday, January 15th. This represents a c) annualized dividend and a yield of 11.9%. The ex-dividend date of this dividend is Wednesday, December 31st.

Ares Commercial Real Estate has decreased its dividend by an average of 0.1%annually over the last three years. Ares Commercial Real Estate has a payout ratio of 260.9% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments.

Ares Commercial Real Estate Trading Down 0.9%

Shares of NYSE:ACRE opened at $5.05 on Monday. The company has a 50 day moving average of $4.96 and a 200-day moving average of $4.77. The firm has a market cap of $277.63 million, a P/E ratio of -33.63 and a beta of 1.27. Ares Commercial Real Estate has a twelve month low of $3.35 and a twelve month high of $6.25.

Ares Commercial Real Estate (NYSE:ACRE) last announced its earnings results on Friday, November 7th. The real estate investment trust reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.17. The firm had revenue of $5.63 million for the quarter, compared to analysts’ expectations of $11.35 million. Ares Commercial Real Estate had a negative return on equity of 5.15% and a negative net margin of 13.02%. Equities research analysts forecast that Ares Commercial Real Estate will post -0.34 EPS for the current year.

About Ares Commercial Real Estate

Ares Commercial Real Estate Corporation (NYSE: ACRE) is a publicly traded real estate investment trust (REIT) primarily focused on commercial real estate debt investments. Externally managed by an affiliate of Ares Management Corporation, ACRE seeks to generate attractive risk-adjusted returns through its diversified portfolio of CRE financing strategies. The company specializes in originating, acquiring, financing and managing first mortgages, mezzanine loans, preferred equity and other structured finance products.

Since its inception, Ares Commercial Real Estate has targeted a broad range of property types, including multifamily, office, industrial, retail and hospitality assets.